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- Whales and exchanges are actively moving their SHIB holdings, sparking a surge in market activity.
- Significant transactions indicate substantial movement within the Shiba Inu ecosystem.
- On-chain data reveals a notable increase in large transactions, potentially influencing SHIB’s price.
There has been a notable surge in Shiba Inu (SHIB) market activity, driven primarily by the movement of SHIB holdings among whales and exchanges. This uptick coincides with a marked increase in on-chain data, indicating substantial shifts within the Shiba Inu ecosystem.
One standout transaction involved the transfer of 45.01 billion SHIB, valued at approximately $1.13 million, from one Robinhood hot wallet to another. Additionally, Symbolic Capital Partners MEV Bot executed multiple transactions, each involving around 50 billion SHIB, with transaction values ranging between $1.23 million and $1.26 million.
Notably, Uniswap also observed significant volume, with transactions recorded at 50.8 billion SHIB ($1.26 million) and 50.4 billion SHIB ($1.23 million). The surge in activity is highlighted by on-chain data, revealing 86 large transactions totaling around 1.14 trillion SHIB within the last 24 hours. This marks a substantial increase from the recent low of 14 transactions to the high of 378 transactions recorded over the past seven days.
Similarly, the volume of these large transactions reached 1.14 trillion SHIB in the past day, compared to the seven-day high of 9.6 trillion SHIB and the low of 415.2 billion SHIB. This flurry of activity may have implications for the price of SHIB. Despite the market’s relative stability, with SHIB’s price hovering around the $0.00002450 mark and resistance at $0.000025, the recent uptick in whale transactions and large transfer volumes suggest a potential breakout or significant price movement.